Main Principles of the Risk Management Process
In connection with the strategy process and annual planning the CEO of the Company and Presidents of the Group´s business segments review business risks which could endanger the achievement of strategic or profit targets. The businesses produce risk assessment reports for each business to support the strategy process. Strategic and operative risks are monitored through monthly reporting by businesses in the Segment Boards (see above section Business segments). Businesses must produce assessments of risks in their designated areas of responsibilities and provide action plans to manage risks as well as to report to the Segment Boards on measures taken including the stage and effectiveness of such measures.
The Company´s CEO reports the identified risks concerning the Group as well as all planned and effected measures to control such risks to the Company´s Board of Directors.